Time Warner Sells NYC HQ For $1.3B, Heads For Hudson Yards

Law360, Los Angeles (January 16, 2014, 3:56 PM EST) -- Time Warner Inc. has sold its office space at Time Warner Center in New York City to a group led by Related Cos. for $1.3 billion and will relocate its corporate headquarters to the massive Hudson Yards tower, the company said Thursday.

Related and its partners in the deal, sovereign wealth funds the Abu Dhabi Investment Authority and GIC Pte., bought 1.1 million square feet from the media conglomerate and will lease office space back to Time Warner until early 2019, it said.

In late 2018,...
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